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Charlotte, NC Comprehensive Neighborhood Improvement

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Charlotte, NC Comprehensive Neighborhood Improvement Charlotte, NC Comprehensive Neighborhood Improvement Program Rozzelles Ferry/West Trade Street Market Analysis & Project Strategy Brief Addendum to Look Book and Report prepared by Stantec March 2015 Turning Point Comprehensive Neighborhood Improvement Program (CNIP) Academy West Trade/Rozzelles Ferry Road Neighborhood ÖÆ16 SOLOMANS NEIGHBORHOOD PARK HOSKINS BROOKSHIRE FWY NEIGHBORHOOD PARK L.C. COLEMAN NEIGHBORHOOD PARK STEWART CREEK GREENWAY STEWART CREEK GREENWAY ROZZELLES FERRY RD STEWART CREEK GREENWAY STEWART CREEK GLENWOOD DR GREENWAY ¨¦§85 STEWART STEWART CREEK CREEK GREENWAY GREENWAY FIVE POINTS NEIGHBORHOOD PARK Angels Christian Academy MARTIN Walter G. LUTHER KING Byers School COMMUNITY PARK TUCKASEEGEE RD Johnson C. Smith University BIDDLEVILLE NEIGHBORHOOD PARK BEATTIES FORD RD \ BETTE RAE THOMAS CENTER STEWART CREEK ENDERLY GREENWAY Phillip O. NEIGHBORHOOD Bruns Berry Academy PARK Academy of Technology SEVERSVILLE NEIGHBORHOOD PARK Five Points Intersection CAMP GREENE TRADE ST COMMUNITY PARK STEWART CREEK GREENWAY STEWART FREEDOM DR WESLEY CAMP GREENE CREEK HEIGHTS CONNECTOR GREENWAY GREENWAY FRAZIER NEIGHBORHOOD PARK ¨¦§77 THIRD WARD Ashley Park NEIGHBORHOOD WESLEY PARK ASHLEY RD PreK-8 STEWART School HEIGHTS CREEK GREENWAY GREENWAY ÖÆ27 STEWART CREEK GREENWAY MOREHEAD ST BRYANT NEIGHBORHOOD PARK DOWD HOUSE HISTORIC Aristotle SITE Preparatory Academy Invest ¤£29 Collegiate WILKINSON BLVD [ 0 500 1,000 1" = 500' at 34" X 44" Study Area Boundary Study Area Boundary Railroads College or University Property Metro School Parcels Streams ©2015Building by FootprintsCity of Charlotte,Park Property Rose & Associates Southeast, Inc. and Stantec. Text and all photos, images and dataContour by Lines Rose AssociatesImpervious Surface unless otherwise noted. Reproduction in its entirety only, permitted with credit in print. The conclusions and recommendations set forth are based upon information provided byLast Revised: public Tuesday, December records, 9, 2014 municipal officials, business owners, market and demographic data obtained by Rose & Associates Southeast, Inc. Neither an appraisal nor title search was performed for the Study Area or any specific property in preparing this report. While the information included herein is believed to be accurate, no warranty or representation, expressed or implied, is made as to the information contained herein, and is submitted subject to omission, change of market conditions, or other factors outside the scope of this report or the author’s control. © Copyright 2015, Rose & Associates Southeast, Inc. Permission to reprint this report in its entirety only. Study Area & Context Study Area & Context Rose and Associates was retained by Stantec on behalf of the city of Charlotte to evaluate the market and economic dynamics of the northwest neighborhoods surrounding West Trade Street and Rozzelles Ferry Road, as part of the Comprehensive Neighborhood Improvement Program (CNIP). The study area encompasses an area totaling approximately six square miles to include twelve Neighborhood Profile Areas (NPA) and four business corridors, including Freedom Drive, Wilkinson Boulevard, Rozzelles Ferry Road and West Trade Street. Contained in our analysis is the initial data collection area (herein after collectively referred to as the “study area”), which is the area of influence that incorporates those NPAs impacted by investment in the west-end area of the City. Turning Point Comprehensive Neighborhood Improvement Program (CNIP) Academy West Trade/Rozzelles Ferry Road Neighborhood ÖÆ16 SOLOMANS NEIGHBORHOOD PARK HOSKINS BROOKSHIRE FWY NEIGHBORHOOD PARK L.C. COLEMAN NEIGHBORHOOD PARK STEWART CREEK GREENWAY STEWART CREEK GREENWAY ROZZELLES FERRY RD STEWART CREEK GREENWAY STEWART CREEK GLENWOOD DR GREENWAY ¨¦§85 STEWART STEWART CREEK CREEK GREENWAY GREENWAY FIVE POINTS NEIGHBORHOOD PARK Angels Christian Academy MARTIN Walter G. LUTHER KING Byers School COMMUNITY PARK TUCKASEEGEE RD Johnson C. Smith University BIDDLEVILLE NEIGHBORHOOD PARK BEATTIES FORD RD \ BETTE RAE THOMAS CENTER STEWART CREEK ENDERLY GREENWAY Phillip O. NEIGHBORHOOD Bruns Berry Academy PARK Academy of Technology SEVERSVILLE NEIGHBORHOOD PARK Five Points Intersection CAMP GREENE TRADE ST COMMUNITY PARK STEWART CREEK GREENWAY STEWART FREEDOM DR WESLEY CAMP GREENE CREEK HEIGHTS CONNECTOR GREENWAY GREENWAY FRAZIER NEIGHBORHOOD PARK ¨¦§77 THIRD WARD Ashley Park NEIGHBORHOOD WESLEY PARK ASHLEY RD PreK-8 STEWART School HEIGHTS CREEK GREENWAY GREENWAY ÖÆ27 STEWART CREEK GREENWAY MOREHEAD ST BRYANT NEIGHBORHOOD PARK DOWD HOUSE HISTORIC Aristotle SITE Preparatory Academy Invest ¤£29 Collegiate WILKINSON BLVD [ 0 500 1,000 1" = 500' at 34" X 44" Study Area Boundary Study Area Boundary Railroads College or University Property Metro School Parcels Streams Building Footprints Park Property Contour Lines Impervious Surface Last Revised: Tuesday, December 9, 2014 Rozzelles Ferry/West Trade Street Charlotte, NC • Rose & Associates Southeast, Inc. 22 Study Area & Context A combination of methodologies is utilized in developing our findings and recommendations. The analysis and forecasting of market data, comprising demographic and population estimates together with economic and employment estimates, is both art and science. All market research analysis begins with US Census Bureau data – which has limitations as to both accuracy and timeliness. Nonetheless, the data provide a benchmark as much for a retrospective look as a prospective one. Four factors must be considered when looking exclusively at such data: 1) the role of economic drivers that are a departure from past trends; 2) growth from primary centers spilling over into outlying areas; 3) constraints due to physical barriers; and 4) availability of land physically and legally suited for development. Included is our analysis, observations and recommendations to assist in identifying projects that will contribute to the transformation of this culturally and historically rich area and help to ensure its sustainability for future generations. Rozzelles Ferry/West Trade Street Charlotte, NC • Rose & Associates Southeast, Inc. 33 Executive Summary Executive Summary Charlotte ranks second among the fastest-growing large cities in the United States, according to the most recent data released by the U.S. Census Bureau. The CNIP study area at Rozzelles Ferry/West Trade Street is already changing. Housing is being upgraded, streets are being improved, and Johnson C. Smith University, a historic black college, is an activist partner in changing the environment around its campus. Mecklenburg county’s adaptive reuse of the old Freedom Mall is a substantial positive change, the Stewart Creek greenway and multiple parks have been established throughout the area, industrial and business enterprises are providing jobs, and business corridors are showing early signs of new vitality. This is an area of great history and great opportunity. The market is a story of reconnecting and repositioning: fitting in the missing pieces of the puzzle, completing projects, closing gaps and maximizing the existing infrastructure investment that has already been made, rather than starting over or adding any substantial inventory. There is much to celebrate and there is much to be done to ensure this area’s long range success. The report can be summarized by a simple concept and five guiding principles: IF Center City is the heart of Charlotte… The West End is its Soul • Preserve the historical housing stock and provide additional housing options for multiple generations. • Celebrate the rich heritage and culture of Charlotte’s African-American community through connecting historical and cultural assets, and consolidating and strengthening existing corridors. • Connect the neighborhoods to the commercial corridors by completing infrastructure projects, completing/expanding greenway connections, opening cul-de-sacs, and expanding transportation options. • Reposition retail and industrial developments with renovation and/or adaptive reuse for the 21st Century. • Inspire education and entrepreneurship to create job opportunities and small local businesses, supporting economic mobility to stabilize real estate markets and providing community health and wellness. Rozzelles Ferry/West Trade Street Charlotte, NC • Rose & Associates Southeast, Inc. 44 2.1 Executive Summary Subsumed within these concepts are the following findings regarding the real estate market and key areas where transformation is possible: • Housing - The success of housing in the study area is dependent upon two primary factors: transportation and education. Therefore, the proposed Gold Line and Trolley projects, as well as greenway and sidewalk infrastructure will have an impact on accessibility to goods and services. There are opportunities to stabilize, rehabilitate and preserve the existing single family housing stock – through public private initiatives and programs, including the expansion of historic districts. Increasing the stability of owner-occupied homes would improve property values, allow Baby Boomers and Seniors to age in place, and strengthen the commercial corridors. There are also opportunities to further diversify multifamily housing that will provide alternative choices that match the needs and wants of today’s Millennials and aging Baby Boomers. These include the redevelopment of Tarleton Hills under a Choice Neighborhood Implementation program, the adaptive reuse of the Savona Mills project, and the development of vacant parcels and
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